Disasters Cost More Than Ever — But Not Because of Climate Change

When you read that the cost of disasters is increasing, it’s tempting to think that it must be because more storms are happening. They’re not. All the apocalyptic “climate porn” in your Facebook feed is solely a function of perception. In reality, the numbers reflect more damage from catastrophes because the world is getting wealthier. We’re seeing ever-larger losses simply because we have more to lose — when an earthquake or flood occurs, more stuff gets damaged. And no matter what President Obama and British Prime Minister David Cameron say, recent costly disasters are not part of a trend driven by climate change. The data available so far strongly shows they’re just evidence of human vulnerability in the face of periodic extremes.